August 10, 2009

New Deals, Growth in China Clean Tech

The National Energy Administration in Beijing plans massive wind power installations by 2020. The first such wind farm of 10 Gigawatt capacity in Jiuquan, Gansu Province, near China's first (founded 1958) and most famous space center, is underway with Huaneng Power and several other companies - including foreign businesses - involved.

Meanwhile, Huaneng Power (NYSE: HNP) and Duke Energy signed a non-binding memorandum of understanding in Beijing for collaboration in clean coal, carbon capture, energy savings, and renewables. The venture opens the door for Huaneng investments in the USA.

In related news, GE will sell 9 gas turbines to a Fujian power company for over $100 million (US dollars). GE manufactures the gas turbines at plants in South Carolina and France....

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HNP dropped 7 days in a row since your analysis. Today 18AUG it is up 2.8%
Capital & machinery cost money so expect investors to pay.
GE also dropped and rose during same period as HNP. Magic of Communist party reigns supreme.
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